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Global Review of Islamic Economics and Business
Published by Universitas Islam Negeri Sunan Kalijaga Yogyakarta
ISSN : 23387920     EISSN : 23382619     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
The scope or coverage of this International journal will include but are not limited to: Islamic Economics, Islamic Business, Islamic banking, Islamic capital markets, Islamic wealth management, Issues on shariah implementation/practices of Islamic banking, Zakat and awqaf, Takaful, Islamic Corporate Finance, Shariah-compliant risk management, Islamic derivatives, Issues of Shari`ah Supervisory Boards, Islamic business ethics, Islamic Accounting, Islamic Auditing.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 5 Documents
 1 
Search results for , issue "Vol. 12 No. 2 (2024)" : 5 Documents clear
Green Practices and Purchase Intentions: The Mediating Role of Green Image and Trust Among Muslim Consumers M Qoshid Al Hadi; Wahab, Abdul; Budi, Iman Setya
Global Review of Islamic Economics and Business Vol. 12 No. 2 (2024)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2024.122-01

Abstract

The issue of sustainability of green products has garnered significant attention within both societal and business spheres. In essence, green products constitute a crucial consideration in marketing. The development of various marketing methods has contributed to diverse public perceptions as well as eco-friendly products widely available on the market. Therefore, this study aimed to determine the influence of green practice, green image, green trust, and purchase intention. Furthermore, this study also investigated green image and green trust as a mediator in the relationship between green practices and purchase intention while also exploring the moderating role of environmental awareness in this relationship.  A total of 393 Muslim consumers from 10 provinces with the largest Muslim majority in Indonesia were selected to fill out an online questionnaire. The collected data was processed using AMOS-v26 and SPSS v25. The results demonstrated that green image and green trust mediate the relationship between green practices and green purchase intention. Meanwhile, environmental awareness was found to moderate the indirect relationship among the variables of green practices, green image, green trust, and green purchase intention. These findings contribute to the strengthening of self-congruity theory. This study also contributes to theoretical and contextual knowledge related to the perceptions and behavior of Muslim consumers regarding the consumption of green products, offering valuable business considerations for practitioners.
How does equity financing impact non-performing financing? Evidence from Indonesia Melati, Sophis Listy; Risfandy, Tastaftiyan; Pratiwi, Desti Indah; Hartomo, Deny Dwi
Global Review of Islamic Economics and Business Vol. 12 No. 2 (2024)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2024.122-02

Abstract

This study aims to investigate the impact of equity financing on non-performing financing (NPF) in Islamic commercial banks in Indonesia. To address this issue, we conducted a panel data regression analysis on 12 Islamic commercial banks in Indonesia from 2010 to 2022. The finding of this study suggests that an increase in equity financing is associated with a lower NPF ratio of Islamic banks. While it is theoretically argued that Islamic banks’ equity financing may be associated with higher risk, our empirical evidence indicates the opposite, suggesting an improved risk profile. Indonesia presents a favorable environment for the application of equity financing for Islamic banks because large Islamic banks in Indonesia are often government-owned, which can lead to“safe” loan portfolios and strong loan repayment. Indonesia is also considered a religious country, creating a suitable environment for mudarabah and musharakah financing. Our findings suggest that Islamic banks in Indonesia should consider offering more equity financing, particularly for low-risk projects, such as those initiated by the governments.
The Dual-Monetary Policy and Growth of The Real Sector (A Study Case in Indonesia and Malaysia) Karuni, Mudita Sri; Sunaryati, Sunaryati
Global Review of Islamic Economics and Business Vol. 12 No. 2 (2024)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2024.122-05

Abstract

Within a dual banking system, monetary policy is implemented under a regulatory framework. In addition to maintaining price stability, monetary policy aims to influence real economic activity through its transmission mechanism. This mechanism is subject to change due to various financial sector phenomena. The study aims to analyze the relationship between dual-monetary system mechanisms, encompassing conventional interest rates and Islamic returns, and the real sector in Indonesia and Malaysia from 2010 to 2019. Utilizing the Vector Error Correction Model (VECM), the study reveals that in Indonesia, conventional monetary policy significantly impacts the real sector in the short term, while Islamic monetary policy exhibits a stronger long-term influence. Similarly, in Malaysia, Islamic monetary policy demonstrates greater effectiveness in influencing the real sector compared to its conventional counterpart. IRF analysis indicates that Islamic monetary policy demonstrates greater stability than the conventional model in both countries. Furthermore, FEVD analysis suggests that the implementation of a dual-monetary policy, incorporating both conventional and Islamic models, promotes real sector growth in Indonesia. Conversely, in Malaysia, a dual-monetary policy relying solely on the conventional model appears to hinder real sector growth. Overall, Islamic monetary policy in Malaysia proves more effective in stimulating the real sector.
Maqasid Shariah and Organizational Performance: A Systematic Literature Review Dasmadi, Dasmadi; Hadi, Syamsul; Junchu, Yang; Wahyuningtyas, Nabila; Wedadjati, Ratna Sesotya
Global Review of Islamic Economics and Business Vol. 12 No. 2 (2024)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2024.122-03

Abstract

This study aims to develop a Pentagon-Shaped Ethical Measurement framework based on Maqasid Shariah to assess organizational performance. The research employs a systematic literature review approach, analyzing scholarly works related to Maqasid Shariah and organizational performance. The study identifies relevant research from 2015 to 2024 using databases such as Scopus. The study finds that Maqasid Shariah is a comprehensive ethical framework for evaluating organizational performance. The findings suggest that integrating Maqasid Shariah into performance measurement enhances organizational credibility, corporate governance, and long-term sustainability. This study provides a Pentagon-Shaped Ethical Measurement framework based on Maqasid Shariah for evaluating organizational performance. Unlike previous research that mainly focuses on financial performance. Organizations can utilize Maqasid Shariah principles to develop a more balanced and sustainable performance assessment model. The study highlights the role of Maqasid Shariah in promoting social welfare, economic justice, and ethical business practices. Adopting a multidimensional performance framework contributes to long-term economic sustainability, fair wealth distribution, and corporate social responsibility (CSR).
Testing the Effect of General Election on Market Reaction of Islamic vis-à-vis Conventional Capital Market: Does Presidential Election Cycle Theory Exist in Indonesia? Rouf, Abdul; Muhammad Adnan
Global Review of Islamic Economics and Business Vol. 12 No. 2 (2024)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2024.122-04

Abstract

This paper investigates the Presidential Election Cycle Theory by examining the Indonesian stock market's reaction to presidential elections from 2004 to 2024. Specifically, it compares the reactions of Islamic and conventional capital markets. Employing an event study methodology with abnormal return as the indicator, the analysis utilizes secondary data comprising daily stock prices for seven days preceding and following each election. The findings indicate that presidential elections have a significant effect on capital market reactions, as evidenced by abnormal return values. However, the Islamic capital market demonstrates greater resilience than its conventional counterpart in responding to political events, such as presidential elections. The study concludes that the Presidential Election Cycle Theory is applicable to Indonesia, necessitating its consideration by policymakers, investors, and all stakeholders.

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